Public statements in response to a petition to review a recently approved FINRA rule change are due by May 10, 2022.
News & Insights
The SEC requested comments on a proposal to shorten the standard settlement cycle for most securities transactions from three to two business days. The request for comments was published in the Federal Register.
FINRA provided an overview of securities-backed lines of credit ("SBLOCs"), a product increasingly offered by securities firms to investors. The investor alert explains: (i) what SBLOCs are; (ii) how they work; (iii) credit limits; (iv) related interest rates and repayments; and (v) weighing potential advantages and risks. The alert recommends investors ask the following questions before taking out an SBLOC: When I take out an SBLOC, what am I agreeing to? Who is the lender? Should I use my investments as collateral? What if the value of my portfolio decreases? Does my investment mix matter
FINRA announced the effective dates of recently approved rules establishing margin requirements for "to-be-announced" transactions and other forward-settling agency securities transactions.
FINRA announced enhanced functionality updates to its Regulatory Extension ("REX") system, which allows firms to electronically submit requests for extensions of time under FINRA Rule 4210.